Xcel Energy Inc. to Issue Quarterly Dividend of $0.36 (XEL)
Xcel Energy Inc. (NYSE:XEL) declared a quarterly dividend on Wednesday, August 23rd, RTT News reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.36 per share by the utilities provider on Friday, October 20th. This represents a $1.44 annualized dividend and a yield of 2.93%.
Xcel Energy has increased its dividend payment by an average of 6.8% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Xcel Energy has a dividend payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Xcel Energy to earn $2.46 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 58.5%.
Shares of Xcel Energy (XEL) traded up 0.417% on Wednesday, reaching $49.335. 964,527 shares of the company’s stock traded hands. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 21.781 and a beta of 0.19. Xcel Energy has a 52 week low of $38.00 and a 52 week high of $49.38. The company has a 50 day moving average price of $47.25 and a 200 day moving average price of $45.53.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. Xcel Energy had a return on equity of 10.42% and a net margin of 10.08%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that Xcel Energy will post $2.20 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on XEL shares. BidaskClub lowered Xcel Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Morgan Stanley lifted their price objective on Xcel Energy from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Argus lifted their price objective on Xcel Energy from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered Xcel Energy from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Finally, BMO Capital Markets lifted their price objective on Xcel Energy from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Friday, July 28th. Ten research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $46.67.
In related news, EVP Kent T. Larson sold 10,000 shares of Xcel Energy stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $47.25, for a total transaction of $472,500.00. Following the completion of the transaction, the executive vice president now directly owns 80,221 shares in the company, valued at approximately $3,790,442.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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